Edible oil company giving relief to consumers adani vilmare said on Monday that it has reduced cooking oil prices Up to Rs 30 per liter amid fall in global prices. The company, which sells its products under the Fortune brand, has cut the prices of soybean oil the most. Low priced stocks will reach the market soon.
The move comes after the government recently asked edible oil companies to cut prices on edible oils to pass on the benefits of the fall in international edible oil rates to consumers.
Mother Dairy, which sells edible oils under the Dhara brand, had on February 7 cut soybean and rice bran oil prices by up to Rs 14 per litre.
Adani Wilmar said in a company, “In line with the government’s effort to reduce global prices and pass on the benefits of reduction in edible oil prices to consumers, Adani Wilmar has reduced the prices of edible oil from the cuts made by the company last month. And there’s a shortage.” , Fortune soybean oil price has been revised from Rs 195 per liter to Rs 165 per litre.
The company has reduced the price of Fortune rice bran oil from Rs 225 per liter to Rs 210 per liter, while the MRP of groundnut oil has been reduced from Rs 220 per liter to Rs 210 per litre. The rate of Raga Vanaspati has been reduced from Rs 200 per liter to Rs 185 per liter and that of Raga Palmolein oil from Rs 170 per liter to Rs 144 per litre.
The rate of sunflower oil has been reduced from Rs 210 per liter to Rs 199 per litre. MRP (Maximum Retail Price) of mustard oil has been reduced from Rs 195 per liter to Rs 190 per litre.
“We have passed on the benefit of reduction in global prices to our consumers and with the new prices the stock will soon hit the market. Our products… will be available at a lower cost to our consumers. This move is definitely going to be a great way to ensure that the upcoming festive season is over. will boost demand,” said Angshu Malik, MD and CEO, Adani Wilmar.
The company said that in view of the sharp fall in global prices, the oil prices have come down drastically. Adani Wilmar is one of the fastest growing FMCG companies in the country. Apart from a range of edible oils, its offerings include rice, flour, sugar, gram flour, ready-to-cook khichdi, soya chunks and others.
Edible oil makers last month cut prices by up to Rs 10-15 per liter and earlier also reduced MRP, taking cues from the global market. Keeping in view the further fall in global prices, Food Secretary Sudhanshu Pandey convened a meeting of all edible oil associations and major manufacturers to discuss the current trend and make consumers aware of falling global prices by reducing MRP.
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